Sony to launch PlayStation 4 in November at $429, $529 -- report

Sony's PlayStation 4 event is today, but that hasn't stopped the rumor mill from continuing to churn out details.

The console, which hasn't been officially named but is expected to be called the PlayStation 4, will be made available in November in the United States, gaming blog Kotaku is reporting, citing people who claim to have knowledge of the company's plans. Those same sources told Kotaku that the console will ship in two different versions and cost $429 and $529, respectively.

Sony is holding a special PlayStation event in New York City today. So far, the company has been tight-lipped on what it will announce, but just about every rumor has suggested a new PlayStation will be unveiled.

Earlier reports have suggested that the PlayStation 4 will run on an AMD processor, rather than the Cell chip in its PlayStation 3. In addition, the device could support the ability to stream PlayStation 3 games over the Web. Sony's controller will also come with a touchpad to enhance gaming, according to reports.

Speaking of controllers, Kotaku's sources also said that Sony is planning to allow PlayStation 4 owners to control their console with a tablet or smartphone. Those devices will be used to chat with other PlayStation owners and buy games that will be downloaded to the console.

If Kotaku's source is correct, Sony's console will be priced significantly higher than the first next-generation console launch, the Wii U. That device is currently on sale for $300 and $350 for the Basic set and Deluxe set, respectively. Nintendo has been pressed with questions on whether it should reduce the price of its console to boost demand, but so far, the company has balked, saying that the price is right. In January, Nintendo sold just 57,000 Wii U units.